In this Ethereum classic price prediction, we will look at various aspects of this cryptocurrency to help traders and other crypto enthusiasts make an informed decision.
As of this writing, Ethereum Classic had a trading volume of $1,392,429,061 in the last 24 hours. Valued at $19.71, ETC ranks 55 on CoinMarketCap, according to market size of $2,290,156,834. It has a circulating supply of 116,313,299 coins and a maximum supply of 210,700,000 coins.
Ethereum Classic Price Prediction: Analysis
At the beginning of 2021, the ETC trading price was $5.70. In the last three months, the price of ETC has been unsteady, which makes Ethereum Classic price prediction a bit challenging for many analysts. However, we believe that the ETC price may further increase if the network improves its scalability and interoperability with other networks.
In January, ETC was hovering between $7.50 and $7.60 before it increased to $15.02 in mid-February. By mid-March, it had gone down to $12.28, a trend that persisted to the end of that month. However, at the beginning of April, the ETC price picked, and the coin is trading today at slightly more than $19.
All the same, while its peer cryptocurrencies, such as Binance Coin, Polkadot, and Cardano, have soared up the rankings, Ethereum Classic price has somehow remained stagnant or even dropped. Even in the current bull-run that began in December 2020, Ethereum Classic is still below its all-time high price of $42.79.
Even the most optimistic Ethereum Classic price prediction analysts do not see it hitting this range any time soon.
The following are critical support and resistance levels and pivot point calculated by Walletinvestor. It covers the three most important resistance and support levels:
- Resistance Level (R3): 22.793;
- Resistance Level (R2): 22.108;
- Resistance Level (R1): 21.239;
- Pivot Point: 20.554;
- Support Level (S1): 19.685;
- Support Level (S2): 19.000;
- Support Level (S3): 18.131
Even in what seemed like an alt season spurred by Bitcoin’s hike on the charts, Ethereum Classic price dropped alongside that of other altcoins, such Tron and Zcash.
So far, Ethereum Classic has fallen down the rankings in the past few months, with its position taken by better-performing rivals. However, in terms of price, the coin seems to be doing better than it was in 2020. However, it still needs a sustained uptrend before it can touch its ATH or break it.
A major development is expected to take place on the Ethereum Classic network, which analysts believe will boost the operations and the ultimate price of the coin. Saturn Protocol V2, which is coming in Q2 2021, is a major upgrade to the Ethereum Classic protocol. The upgrade aims to complete the Prometheus stage of its roadmap. It will introduce new key features to improve the Ethereum Classic protocol for investors, users, and stakeholders.
Ethereum Classic Price Prediction: Market Opinions
Many cryptocurrency price prediction sites have made their Ethereum Classic predictions for April, and as usual, we decided to include some of them in order to better understand the market sentiment for ETC.
According to Longforecast, an online forecasting service, ETC price may pick up in the coming months. The website estimates that ETC price will close April at $33.7, which is a 142.3% increase from the price at the beginning of the month.
Walletinvestor expects ETC’price to rise anytime soon. According to their Ethereum Classic price prediction, it may drop from $19.345 to $14.208, bringing a -26.557% change. Here is the ETC prediction for the next two weeks:
|Date||Price||Min Price||Max Price|
According to Tradingbeasts‘s Ethereum Classic price prediction, the ETC price could hit $14.879 at the beginning of May 2021. The coin might have a maximum price of $18.697 and a minimum of $12.714. The service estimates that ETC could close April at $14.958.
Ethereum Classic Price Prediction: Verdict
Based on these predictions, we cannot be sure what would be the exact price of ETC in the next few months. While some platforms are optimistic that the price may increase, others suggest it will take a little longer for the ETC price to increase. All the same, whether the price increases or decreases depends on how the network positions itself against its competitors.
Overall, Ethereum Classic is one of the cryptocurrencies to watch in the coming months, as it has a wider space for growth. You just have to analyze its behavior carefully so that you can make the right decision.
Featured image: cryptonomist.ch
Notice: The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.